Marketing with high street and online estate agents

adonis10

I intend to market my property and hope to achieve 210-213k and have decided to use both types of agent. High street has quoted me 0.9% inc VAT if a sale is achieved through them and the other option is Emoov with their £995 inc VAT only payable if they sell it. It is a big jump but it is less than half so it isn't horrendous, as some high street agents can be.

Do you think it's worth trying both? Essentially, the listings on rightmove etc. are going to be next to each other so it will be pot luck which one potential buyers click on. Or, it might not be if there is some psychological attachment to more familiar high steet names.

Do you think it is worth using both or perhaps start with Emoov and then use the high street one at a later date if no viewings come in?

dc197

Check that the quotes you received are for sole agency. If you agreed sole agency and end up listing with multiple agencies, you could be charged twice.
If those quotes are for multi-agency agreements, I think you have a pair of bargains.

dc197

http://hoa.org.uk/advice/guides-for-homeowners/i-am-selling/how-many-estate-agents-should-i-use/

adonis10

dc197 wrote: »

Check that the quotes you received are for sole agency. If you agreed sole agency and end up listing with multiple agencies, you could be charged twice.
If those quotes are for multi-agency agreements, I think you have a pair of bargains.

As part of the terms (yet to sign) for the high street agent, the following is included "Multiple agency appointment - we will be your selling agent from the date of this agreement. Either you or we can bring the agreement to an end by giving the other at least 14 days notice. You agree to tell us the names and addresses of the other agents you appoint to sell your property"

This appears to be a contradiction; it says "multiple agency appointment" but then goes on to say "we will be your selling agent".

Also, why do you think they request the name and address of other agents working to sell the property?

For sale board - I understand that by law only one can be erected at any one time. As I'd prefer to sell with the online agent, do you think it's better I have their board up? Or, in this day and internet age, is the for sale board not as relevant as it once was?

dc197

It's hard to comment having seen just one paragraph from one of the contracts. Being your selling agent could mean being your agent under a sole or multiple or any type of selling agreement, so I'm not sure there's a contradiction.

They may want the other agent's name to allow them to check whether the house has been sold to a person to whom you were first introduced by them, even if it's sold via the other agent. Again you may still have to pay the first agent.

One board is probably sufficient - at least then passers-by can go to find your house online somewhere.

If the online one is preferred, why bother with the high-street one, especially if there's a chance (yet to be clarified) that you may have to pay two agents,

adonis10

dc197 wrote: »

It's hard to comment having seen just one paragraph from one of the contracts. Being your selling agent could mean being your agent under a sole or multiple or any type of selling agreement, so I'm not sure there's a contradiction.

They may want the other agent's name to allow them to check whether the house has been sold to a person to whom you were first introduced by them, even if it's sold via the other agent. Again you may still have to pay the first agent.

Have confirmed with both that it is not sole agency, so am ok to run with both.

dc197 wrote: »

One board is probably sufficient - at least then passers-by can go to find your house online somewhere.

If the online one is preferred, why bother with the high-street one, especially if there's a chance (yet to be clarified) that you may have to pay two agents,

Online one is preferred to due it being around £900 cheaper upon sale. However, it is not such a big difference that I am not prepared to use the high street one as well. The high street one was negotiated down so I feel that the additional exposure will help. I hope that people will come through the online one, but that is the risk I take.

I personally look at the house and price, rather than the agent, when I'm searching RightMove so it may be pot luck which one gets the most views, depending where each falls in the search list.

Rodders53

'tis a bargain for both no sale no fee and joint agency.

Naturally it will be random-ish which one will be clicked on. I tend to look at all when multiple agents as some extra information can often be gleaned from photos and descriptions. However multiple agents also screams 'having trouble selling'.

Personally as buyer I'd prefer a smallish local agent to talk to rather than an anonymous 'big brand agent' local office or an online company. But I'm likely not your target buyer (I'm older, more to spend etc.,.).

eddddy

Also make sure that you don't have a 'daft' buyer who makes you liable for 2 lots of fees.

Here's a typical extract from an EA contract:

You will be liable to pay remuneration to us in addition to any other costs or charges agreed if at any time unconditional contracts for the sale of your property are exchanged:

(i) with a purchaser introduced by us during the period of our multiple agency (including any notice period);
or
(ii) with whom we had negotiations about the property during that period

So, for example, a buyer views through EA1, but then offers through EA2 (because they didn't like EA1) - you would probably be liable for 2 lots of fees (or at least have a very big argument about fees).